LEAD: The dollar fell to a 40-year low against the Japanese yen in New York trading yesterday, shrugging off intervention by the Federal Reserve and again raising the question of how far the United States and its economic allies will let the dollar fall.

Dollar Hits 40-Year Low Against Yen

LEAD: The New York City Schools Chancellor, Dr. Richard R. Green, suspended a local school board in the Bronx yesterday, citing a grand jury investigation into complaints that some of its members have used and distributed illegal drugs, stolen school equipment and extorted money from teachers, principals and other school employees.

GREEN SUSPENDS THE SCHOOL BOARD IN BRONX DISTRICT

LEAD: Governor Cuomo, who in times of economic growth has maintained a popular image as both a compassionate liberal and a fiscal conservative, is confronting the daunting political challenge of sustaining this dual image in the face of a $2 billion budget gap.

Cuomo Faces Big Challenge In Budget Gap

LEAD: President Reagan's vision of a North American Common Market that would extend ''from the Yukon to the Yucatan'' is not likely to be realized soon. Although approval of a free-trade agreement with Canada is imminent because Prime Minister Brian Mulroney won a parliamentary majority in Monday's election, a similar agreement with

North American Trade Bloc? Mexico Rejects Such an Idea

LEAD: For shoplifters, Peter D. Berlin is both a scourge and a savior.

To Catch a Thief (and Enroll Him)

LEAD: Doctors who specialize in treating obesity say liquid protein diets, when medically supervised, are safe and effective in helping extremely fat people lose weight.

Liquid Diet Safe But Demanding

LEAD: President Reagan announced today that he would pocket veto legislation tightening restrictions on lobbying by former Government officials and imposing them on members of Congress for the first time.

Reagan Decides To Kill Measure On Ethics Rules

LEAD: On one plaster wall of his apartment, high in a plain brick building in the heart of the South Bronx, Melvyn Griffen has drawn, in careful pencil, the beginnings of a mural. A pharaoh stares east as a princess hovers behind his throne, and a magnificent bird soars above them.

Father, Struggling on His Own, Is Aided by Neediest Cases

LEAD: Tossing out the household trash here requires care and some ingenuity these days. Reckless old habits cost money, now that residents pay for garbage disposal by the bag.

Pay-by-Bag Trash Disposal Really Pays, Town Learns

LEAD: A pound of copper sold for a record $1.60 yesterday on the Commodity Exchange in New York. So great was the demand that prices closed with the largest one-day rises on record at the 55-year-old Comex.

Copper Prices Rise To Record

LEAD: President P. W. Botha today commuted the death sentences of six South African blacks whose case had become the focus of an international campaign for clemency.

BLACKS SPARED DEATH IN PRETORIA

LEAD: In selecting Brent Scowcroft as his national security adviser, President-elect Bush has chosen a highly experienced Washington hand whose independent views on arms control have often put him at odds with Reagan Administration policies.

MAN IN THE NEWS: Brent Scowcroft; Sentinel of Security

LEAD: THERE are, as yet, only two houses finished at Woodbury Lane on Nantucket Island. One is authentic, the other imitation. One, the 1795 Bradford Storey House, was moved here from Vermont; the other is a 1988 reproduction of Nantucket's own Capt. Obed Bunker House, which once stood on the corner of Fair and

Saving an Endangered Species, the Vintage Home

LEAD: The United States plans to demand that foreign countries agree in advance to cooperate with Federal investigators as a condition of receiving American aid for the purchase of warplanes, missiles, tanks and other weapons.

U.S. to Bar Arms Aid Unless the Recipient Vows to Fight Fraud

INSIDE

LEAD: House Speaker Jim Wright said today that the Government should act quickly to slow the pace of leveraged buyouts and hostile corporate takeovers, which he said were having an adverse ''psychological and economic'' impact on the nation.

Wright Urges U.S. Action to Slow Buyouts

LEAD: Three soldiers were killed and 126 people were injured in rioting in the southern republic of Azerbaijan on Tuesday, Soviet officials reported today.

3 Soviet Soldiers Die As Riots Flare Anew In Southern Region

LEAD: Consumer hot lines are heating up: in the coming weeks millions of Americans will call consumer products companies at toll-free long-distance numbers to ask questions on everything from why the Christmas tree lights will not light to why the dishwasher will not wash.

Hello? How Do I Change a Diaper?

LEAD: TWO famous French companies, one known for Art Nouveau glass, the other for Art Deco silver, are opening flagship American boutiques on Madison Avenue in Manhattan.

2 New Flagships Dock on Madison

LEAD: In a case that had prompted national alarm among church leaders, the California Supreme Court held today that neither the clergy nor others unlicensed as counselors or therapists could be held legally liable for failing to provide proper care for the people they advise.

JUSTICES DISMISS SUIT OVER CLERGY

LEAD: Compared with other food companies, the William Wrigley Jr. Company seems a throwback. Yet it is among the most successful companies in the business.

Wrigley Stays True to Gum

LEAD: President-elect Bush today selected as his national security adviser Brent Scowcroft, an arms control specialist widely regarded as a cerebral, low-key centrist.

SCOWCROFT CHOSEN BY BUSH TO BECOME TOP SECURITY AIDE

LEAD:  MARKETS  The price of copper soared to a record $1.60 a pound on the Comex, and copper posted the largest one-day increases ever at the exchange. The buying reflected a dramatic reversal of the widespread belief that prices would continue to decline for a long time and followed reports of clashes in Peru between striking copper miners and police, disruptions of production in Zaire and Zambia and a dramatic reduction in inventory.

BUSINESS DIGEST

LEAD:  NEW YORK  Parade: Begins at 9 A.M. at 77th Street and Central Park West. Travels to Columbus Circle, down Broadway to 34th Street and Seventh Avenue.  Government offices: Closed.  Post office: Express Mail and special delivery only. Main post office open at 33d Street and Eighth Avenue.

Thanksgiving

LEAD: Seats for the Lincoln Center Theater's revival of ''Waiting for Godot'' may be the hottest cultural ticket in town, but now they have a culinary equivalent.

Metro Matters; Another Triumph For Agriculture: Designer Oats

Jarrod Parker is an American former professional baseball pitcher. He was drafted by the Arizona Diamondbacks as the 9th overall pick in the 2007 Major League Baseball Draft from Norwell High School in Ossian, Indiana. He played in Major League Baseball (MLB) for the Diamondbacks and the Oakland Athletics.

November 24, 1988

Headlines from November 24, 1988

Dollar Hits 40-Year Low Against Yen

GREEN SUSPENDS THE SCHOOL BOARD IN BRONX DISTRICT

Cuomo Faces Big Challenge In Budget Gap

North American Trade Bloc? Mexico Rejects Such an Idea

To Catch a Thief (and Enroll Him)

Billboard 200

Rattle And Hum (Soundtrack)

Giving You The Best That I Got

Appetite For Destruction

New Jersey

Cocktail

Notable Births

Historical Context for November 24, 1988